FTSE STI closed 2,667.43, down 18.51 points or -0.69% with a total volume of 2.61b and a total value of S$1.98b. Total number of advance vs decline was 184 vs 343. Of the 30 component index stocks, 5 closed positive, 24 closed negative and 1 remained unchanged. The 5 gainer component stocks were :-
1. NobleGrp +0.180
2. Olam +0.030
3. Capitaland +0.020
4. HKLand US$ +0.010
5. Wilmar +0.010
The top 5 loser component stocks were :-
1. JMH 400US$ -0.780
2. JSH 500US$ -0.220
3. KepCorp -0.220
4. Jardine C&C -0.220
5. SIA -0.200
US markets fell after US Fed maintained near-zero interest rate but outline plan to withdraw stimulus package. Investors fear of such a move and caused the index to fell. Asia bourses except Nikkei ( reopened for trading after yesterday closed for public holiday ) and SSE were traded in negative region taking the cue from US. Nikkei closed +1.68%, SSE +0.38% ( reversed from earlier loss ) and HSI -2.52%. STI though opened in the red but did managed to trade in the positive region when SSE reversed from negative but investors took the rebound as sell into strength and eventually caused the index to close -0.69%. DJ future and European bourses opened in the red also weighed on the sentiment of investors. Current markets are looking at 2 important events, namely forecoming corporate earnings in October and how the various Government going to withdraw the stimulus package. Too aggressively or incorrect timing will cause very bearish sentiment on the market resulting in probably a 10% - 15% correction.
